The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-19
CONDITION OF THE MARKETS
Spirited Trading in Wheat Bears"
Yainly Trying to Depress Prices.
Almost Featureless-0ats Without Change
Provisions Show Great Activity.
MONEY, BONDS AND STOCKS.

Tho New York Market Shows Increased
Strength, Everything Being Higher.
NEW YORK, Oct. 18-Money on call was
sasy at n to Al per cent, the last loan being
made at per cent, closed offered at 2
Prime mercantile paper, Gas per cent.
Sterling exchange was strong and active at
unchanged rates.
The total sales of stocks were 3OS. 707 shares.
including the following: Delaware. Lackawanna
IL Western, 10, $40; Erie. IL, $50; Lake Shore.
81, 992; Louisville g. Nashville s. 100; Missouri
Pacific, s. 1885, Northwestern, IL. 735; Northern
Pacific. preferred, 1858; Oregon Transcon-
tinental. 4.261; Pacific Mail. $3.50; Reading.
90. 100; ST. Paul, 35,56O; Texas Pacific. 3.400;
Union Pacific 1850; Western Union, 1910
The stock market less active to day, but
after a short period of weakness became strong
and made marked advances, in a few cases, over
yesterdays figures. The high prices from Lon
don reflected in improved feeling on
the street this morning, and though the reports
from the West were very unfavorable, further
gains were made. The advices of defalcation
on the other side induced some selling for for
eign account. and the bears" made an attack
upon the list which brought prices down from
half to II per cent. The greatest pressure was
against Reading and many seller sixty options
were put out. The stock resisted the decline
better than most of the list, however, and later
there renewed confidence and the "shorts"
covered freely the scarcity OF a number OF the
leading shares being very noticeable. This
was specially true of the Vanderbilts,
which were foremost in the rise. There was
some strength displayed by Richmond q West
Point rumors that the buying with ref
to change of control. The clique sup
port noticeable than for some time.
and commission houses bought moderately in
the forenoon. The opening strong at ad-
vances Of from J to per cent. over yesterdays
final figures, although the improvement was not
maintained. After some slight further gains in
the first few minutes. the entire list gave way,
and, under "a lead of Union Pacific and Northern
Pacific preferred. declines of from ! to p
cent. were established. The activity then dis
appeared, but the tone of the dealings became
firmer, and by noon most of the losses had been
regained. Some selling was INDUCED in after
that time. but the impression upon prices was
very slight, and the rise quickly resumed,
with the Vanderbts and the weak stocks of the
again interrupted, and the close quiet but
firm at close to tho best prices of the day. AL
most everything is higher tonight Rock
Island rose %; Chicago, Burlington & Quincy,
2; Manitoba. IL; Missouri Pacific and Richmond
e. West Point, II; Oregan Navigation and New
York Central, II: Texas Pacific, per cent.
Railroad bonds were dull; sales, $8S6,000.
Prices were irregular. Baltimore o. Ohio fves
rose g 20 102; Richmond & Danville consols p,
to l13a; Alton e. Terre Haute second preferred
sevens "a, to 1914; Central Iowa irsts lost Al, at
s03; Hooking Valley fives 81, at &c; Delaware 81
Hudson sevens. Of 1894, 80. at 114s.
Government bonds were dull but firm
State bonds dull and steady. Closing